Thursday

17th Nov 2022 Quick News Analysis International

G-20 Meet at Indonesia

• Russian invasion on Ukraine strongly G-20
condemned.
• It exacerbated existing fragilities in ➢ 80% of global GDP
the global economy, constrained ➢ 75% of International
growth, threatened energy, food trade
security and increased financial ➢ 60% of global
stability. population

What does Presidency mean?

o India would be at the helm of
forming consensus among
the most advanced
economies.
US-China leaders met:
➢ Relations have been tensed since
Speaker of the US House of
Representative visited Taiwan.
But Biden assured that there is no
change in ‘One China Policy’.
➢ Competition should not veer into
conflict.
India to assume Presidency of G-20. Current President= Indonesia (Joko Widodo).
US, Japan and Canada pledged $20 billion to make Indonesia Carbon neutral by 2050
➢ India will also be the host of SCO in 2023.
Present challenges facing the world:-
climate change, food and energy security, terrorism
and conflict and bridging the digital divide
Issue raised by US: Issue raised by China:
Human Rights concern in Xinjiang, Export control on chips hampers
Tibet and Hong Kong china’s semiconductor ambitions.

India’s presidency of G-20 will focus:-

Women-led development Theme: One Earth, One Family, One Future.

Iraq

Oct 2021: General Elections were held but no government could be formed because:-

Kurdistan Democratic Party got stronger in the election and were expected to be the king-maker. They wanted to nominate
the country’s President. Now they have accepted Patriotic Union of Kurdistan (PUK)’s candidate- Abdul Latif Rashid

PM- Mohammed Shia al-Sudani (Nominated by the President)

Iraq follows Muhasasa (appointment) system- Iraq’s political system functions on a ‘spoils’ basis, with offices distributed
among Shia, Sunni and Kurdish political groups. This system ensures that power remained with a coalition of Shia parties.

Moscow Format consultations on Poland hit by Ukrainian missile which was AUKUS- Australia, UK
Afghanistan meeting held in the Russian meant to shoot down Russian Missiles. and US
capital.

MF consists of Russia, China, Pakistan,

Iran, Kazakhstan, Tajikistan, Kyrgyzstan,
Uzbekistan, Turkmenistan an dIndia.

UK-India Young Professionals Scheme- UK will offer 3000 degree-holding Indians in the 18-30 age group places to work in
the UK for upto 2 years. The Scheme be on reciprocal basis.
 Thursday
17th Nov 2022 QNA Environment

CoP 27 in Sharm El-Sheikh, Egypt

Such unilateral measures and discriminatory
Carbon Border Tax:
Carbon Border Tax:- practices could result in: -

• European Union proposed a A duty on imports based on • Market distortions.

policy called the Carbon Border the amount of carbon • Aggravate trust deficit amongst parties.
Adjustment Mechanism to tax emissions resulting from the
products such as cement and steel
which are extremely carbon production of the product in
intensive w.e.f. 2026. question. As a price on
• BASIC group voiced concern: carbon, it discourages
they are significantly dependent on emissions. As a trade-related
coal and have reiterated their right
to use fossil fuel during their
measure, it affects production
transition to clean energy. and exports.
• BASIC group also raised voice
that developed countries are not
showing leadership of responding
with a matching effort.

Why is Loss and Damage on CoP 27 agenda?

From 1900 and now- developed countries benefitted from Industrial development which led to GHG emissions. Developing
countries started relatively late.

According to a report from 1751 to 2017, 47% of the CO2 emissions came from just 29 countries (US+EU(28))

Emissions hamper agricultural and human resource productivity as well as increases expenditure related to extreme weather
events.
Thus, Rich Nations have moral responsibility to compensate

What are India’s emissions?

India is among top 7 emitters which collectively emit 55% of GHG emissions in 2020.

In terms of per capita emissions-:

• World average- 6.3 tonnes of CO2 equivalent

• US- 14
• Russian Federation- 13
• China- 9.7
• India- 2.4
 Thursday
17th Nov 2022 QNA National

Removal of Vice-Chancellor Electoral Bonds:- Features of Electoral Bonds:-

Education- concurrent list.
Article 254: if provisions of the State
law are repugnant to the provisions of
the Union law, the State law will
become void.
UGC Regulation: -
For appointment of VC, a search
Committee has to be formed which
would recommend a panel of 3-5
persons.
F 66% to 71%.
➢ VCs of Sardar Patel University,
Gujarat and A.P.J. Abdul
Kalam Technological
University were removed as the
process of appointment did not
follow UGC guideline.
Centre amended the scheme to allow
an additional period of 15 days of
electoral bond sales in years which have
state elections.
Earlier, bonds were available for a
period of 10days each in January, April,
July and October with an exception in
years with LS polls.
ADR data: share of “unknown sources
of income” has increased following the
introduction of electoral bonds from
o State Bank of India is
authorised to issue and encash
these bonds.
o Electoral bonds are purchased
anonymously by donors and
are valid for 15 days from the
date of issue.
o As debt instruments, these can
be bought by donors from a
bank, and the political party can
then encash them.
o These can be redeemed only by
an eligible party by depositing
the same in its designated
account maintained with a bank.
o The bonds are issued by SBI in
denominations of Rs 1,000, Rs
10,000, Rs 1 lakh, Rs 10 lakh
and Rs 1 crore.

Thursday
Economy
17th Nov 2022

India is negotiating FTAs with: India’s export target= $2 trillion

by 2030.
• European Union
• Canada
• The UK
• Israel

Issues with FTAs:

• Digital issues such as data localisation

• Intellectual Property Rights which may impact accessibility of drugs, investment etc
• Tariff reduction impacting manufacturing and agricultural sector

Inflation-

Retail inflation dropped to 3-month low of 6.77% in October (10 consecutive months in which it is outside inflation target)

WPI inflation dropped to 8.3% in October (had been in double-digit since March 2021)

Reasons for drop in inflation: -

• Favourable base effect

• RBI raised rates by 50bps in its last 3 monetary policy committee meetings.
• Export restrictions imposed by the Government.
 Thursday
17th Nov 2022 QNA Science and Technology

NASA’s Artemis lunar-exploration programme kicks off- NASA’s new moon rocket launched.

NASA aims to send 4 astronauts around moon in 2024- with first woman and person of colour to moon.

Artemis= name of twin sister of Apollo from Greek Mythology.

New landing docks and speedboats for

patrolling on Pangong Tso in Easter Ladakh
deployed- matching Chinese deployments on
the lake.

2020- LAC stand-off and consequent Chinese

build-up along LAC made this important.

Pangong Tso- boomerang shaped lake, 135 km

long

India holds 1/3rd of the lake.

Chang Chanmo range referred as ‘fingers’ juts

down from the lake.